Global CBD skin care market revenue to expand at a CAGR of over 33% between 2019 and 2027

Introduction of the Agriculture Improvement Act (2018) in the US to Boost CBD Skin Care Market Growth

In recent times, a new trend has been observed in the market that involves growing consumer interest in cannabis-derived skin care products that include Cannabidiol (CBD). A new law Agriculture Improvement Act of 2018 was introduced in last quarter of the fiscal year of 2018. The Act recommends certain changes, such as removing hemp from the Controlled Substances Act, which means that hemp will no longer be an illegal substance under the US Federal Law.

North America to remain the largest regional market for CBD skin care products

North America, the largest consumer base for CBD skin care products and services providers, will continue to represent the most lucrative market for CBD skin care through 2027.

Availability of hemp-derived CBD skin care products is estimated to direct substantial revenue to the CBD skin care market. Legalization of cultivation and sales of cannabis-based products within North America will prominent foster growth of CBD skin care market in the region.

CBD skin care oils to remain highly preferred CBD skin care product

CBD oils have been gaining popularity in the CBD skin care market owing to convenience of application and other functional attributes such as anti-aging and acne scars removal.

CBD skin care moisturizers and creams, masks, and serums are also estimated to witness sustained adoption among a sizable consumer base.

Top Two Factors Shaping the CBD Skin Care Market

Benefits Offered by CBD Skin Care Products that Accelerate Treatment Outcome of Various Skin Conditions to Contribute to Market Growth

The global market for CBD skin care is witnessing growth due to the ability of these products to treat various skin conditions. Growing awareness about the benefits of CBD skin care products has boosted their adoption by the personal care industry. CBD is used for the treatment of skin care conditions such as dry skin, psoriasis, eczema, and acne. According to FMI, this is expected to remain a key factor driving the demand for CBD skin care at the global level.

Cannabis Is Still Illegal in Various Target Areas of CBD Skin Care Products

Among the types of CBD skin care products, hemp-derived CBD skin care segment accounted for just-under 60% of the global CBD skin care market value in 2017, which is likely to increase at a bullish CAGR of more than 37% over 2019-2027.

Cannabis-derived CBD skin care range will however continue to face gradual demand growth owing to limited regional availability. The report has attributed this challenge to the illegal aspects associated with cannabis cultivation and usage, across several regions.

Some of the most prominent companies in the CBD skin care market include Elixinol Global Limited, Medical Marijuana Inc., Fab CBD Company, and Endoca LLC. A majority of these players are likely to invest strategic efforts in the legalization of cannabis-based products across different regional markets.

According to the report, introduction of innovative and competitively priced products in the CBD skin care market will be an important developmental strategy adopted by companies targeting untapped developing regional markets.

Leading players in the CBD skin care market are also concentrating on introducing CBD-based products in their existing product portfolio to reach new customers, along with expanding their distribution channel and online sales presence.

FMI’s recent market study titled ‘CBD Skin Care Market: Global Industry Analysis 2013 – 2018 and Opportunity Assessment 2019 – 2027’ comprises a comprehensive assessment of the key market dynamics. On conducting a thorough research on the historic as well as current growth parameters of the CBD skin care market, the growth prospects of the CBD skin care market have been obtained with maximum precision.

The report features the unique and salient factors that are likely to have a significant impact on the development of the CBD skin care market during the forecast period. These factors can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the CBD skin care market in the coming years. The report provides detailed information about the current and future growth prospects of the CBD skin care market in the most comprehensive manner for the better understanding of readers.

Chapter 1 – Executive Summary

The report commences with the executive summary of the CBD skin care market, which includes a summary of the key findings and statistics. It also includes the market value (US$ million) estimates of the prominent segments of the CBD skin care market.

Chapter 2 – Market Overview

Readers can find detailed taxonomy and definitions pertaining to the CBD skin care market in this chapter, which will help them understand the basic information about the market dynamics, company share, cost structure, pricing analysis, list of key distributors & suppliers, and a list of the key participants in the CBD skin care market.

Based on the sources, the CBD skin care market has been segmented as marijuana-derived CBD and hemp-derived CBD. In this chapter, readers can find information about the key trends and developments in the CBD skin care market and market attractive analysis based on the product type for each region.

Based on the product type, the CBD skin care market has been segmented into CBD oil, serums, creams & moisturizers, cleansers, sunscreens, and other products. In this chapter, readers can find information about the trends and developments in the CBD skin care market and market attractive analysis based on the product type for each region.

Based on the sales channel, the CBD skin care market has been segmented into hypermarkets/supermarkets, drug stores & pharmacies, specialty outlets, online retailers, and others. In this chapter, readers can find information about the sales channel trends and developments in the CBD skin care market and market attractive analysis based on the sales channel for each region.

This chapter includes a detailed analysis of the growth of the North America CBD skin care market, along with a country-wise assessment for the U.S. and Canada. Readers can also find information about the regional trends in the CBD skin care market, along with regulations and company share analysis and market growth on the basis of sources, product type, sales channel, and country.

Readers can find detailed information about factors such as CBD skin care pricing analysis and regional trends that are impacting the growth of the Latin America CBD skin care market. This chapter also includes the growth prospects of the CBD skin care market in prominent LATAM countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.

Important growth prospects of the CBD skin care market, based on product type, source, sales channel, and country, in several European countries, such as Germany, the U.K., France, Italy, Spain, Russia, and the rest of Europe, have been included in this chapter.

China is a prominent country in the Asia-Pacific Excluding Japan market. Thus, it is among the prime subjects of assessment to obtain the growth prospects of the Asia-Pacific Excluding Japan CBD skin care market. In this chapter, readers can find detailed information about the growth parameters of the Asia-Pacific Excluding Japan CBD skin care market for the period 2019–2027.

Readers can find detailed information about factors, such as CBD products market growth, pricing analysis, and trends, which are impacting the growth of the Japan CBD skin care market. In this chapter, readers can find detailed information about the growth parameters of the Japan CBD skin care market for the period 2019–2027.

This chapter provides information on how the CBD skin care market is expected to grow in the major countries of the MEA region, such as GCC Countries and South Africa, during the period 2019–2027. Readers can find important factors that are estimated to have a significant impact on the growth of the CBD skin care market in MEA during the forecast period. This chapter also provides an overview of the regulations, drivers, restraints, and trends prevalent in the MEA CBD skin care market.

Chapter 11 – Competition Landscape, Company Share, and Company Profiles